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Federal loan support programs continue

From Reports

Posted:
02/14/2013 06:09:38 PM MST

The marketing assistance loan (MAL) and loan deficiency payment (LDP) provisions authorized in the Food, Conservation and Energy Act of 2008 (the 2008 Farm Bill) have been extended for the 2013 crop year with the passage of the American Taxpayer Relief Act of 2012.

MALs and LDPs provide financing and marketing assistance for wheat, rice, feed grains, soybeans and other oilseeds, peanuts, pulse crops, cotton, honey and wool. Assistance is available to eligible producers beginning with harvest or shearing season and extending through the program year.

The 2013 mohair crop is not eligible for MALs or LDPs because the Consolidated and Fur_ther Continuing App_ropriations Act of 2012 and the Continuing Appropriations Resolution, 2013, suspended mohair provisions.

MALs provide producers interim financing at or after harvest to help them meet cash flow needs without having to sell their commodities when market prices are typically at harvest-time lows. A producer who is eligible to obtain a loan, but agrees to forgo the loan, may obtain an LDP if such payments are available.

USDA is an equal opportunity provider and employer. To file a complaint of discrimination, write to USDA, Assistant Secretary for Civil Rights, Office of the Assistant Secretary for Civil Rights, 1400 Independence Avenue, S.

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